Ohio Sports Betting Market Sees Dynamic Shifts and Growth
Ohio’s sports betting scene has experienced significant growth, with a remarkable 37% year-on-year increase in total handle, reaching $611.6 million in May.
DraftKings Overtakes FanDuel
DraftKings has emerged as the new leader in the Ohio sports betting market, overtaking the long-standing dominance of FanDuel.
DraftKings reported a substantial handle of $199.8 million, significantly higher than FanDuel’s $30.6 million in taxable revenue.
Bet365 and BetMGM also showed strong performances, with handles of $45 million and $41.3 million, respectively. Bet365 maintained its position as the third-largest operator, while BetMGM’s figures position it as a key competitor in the market.
Other notable players such as Caesars and Penn’s ESPN Bet are also making impacts, with each securing substantial market shares.
Challenges for FanDuel
FanDuel, once the dominant force in Ohio, has seen a downturn in its fortunes.
Fanatics, a newcomer to the Ohio market, has already carved out a 3% market share in less than a year, demonstrating the potential for new entrants to disrupt the established order.
ESPN Bet, despite facing critical feedback regarding its digital strategy, has managed to secure a 7% market share, illustrating its resilience and strategic positioning.
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